Superdrug has said that pre-tax profits jumped by nearly 72 per cent to £77.8 million in its latest financial statement.

The results for the full year 2022 reveal that sales were up by 17 per cent to £1.36 billion compared to £1.17 billion in the previous year.

The health and beauty retailer attributed the sales boost to improved store footfall in city centres, successful own brand product launches, and a strong Christmas period.

"Throughout 2022 high food, energy and domestic costs continued to put severe pressure on household incomes," said Superdrug chief executive Peter Macnab. "At Superdrug we remained committed to supporting customers through the Cost-of-Living crisis, working with Jack Monroe and becoming the first health & beauty retailer to introduce price freezes on essential products, ensuring we brought best-in-class health and beauty at competitive prices, the success of which we see reflected in the growth of our Own Brand offering and the great take up of Members Only Pricing.”

Macnab added that Christmas was a "particularly positive trading period", with this momentum carrying on into 2023.

The chief executive said that while all of the company's categories are performing well, cosmetics in particular has shown a marked change after a "turbulent few years" during the pandemic.

Superdrug opened 12 new stores in 2022, increasing its total trading estate to 789 stores in the UK and Ireland by the end of the year.

The company recently announced it would open a further 25 stores this year.

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